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The rents of the Turku Student Village Foundation will be revised for 2023

The apartment rents of the Turku Student Village Foundation’s buildings will be revised in accordance with Chapter 3, Section 32 of the Act on Residential Leases due to rise in expenses, starting from 1st of January 2023. Rents were last raised in 2020. Depending on the location and apartment type, rents will be raised by 1–3%. Additionally, a computational increase of 0.51€/ m²/month will be added to all apartments rent due to increased energy costs.

The rents for exchange students’ apartments will be increased by 0.51€/ m²/month. The rents of exchange student apartments will not otherwise be revised. The rent of exchange student apartments will next be revised on 1st of August 2023.

Apartment rents have been determined in accordance with the absorption principle and the rules and regulations of the Housing Finance and Development Centre of Finland, ARA. Based on the absorption principle, the amount of apartment rent charged from the tenants cannot exceed the amount needed, in addition to other form of revenue, to fund the rental apartments and the related facilities and to cover the expenses of good facility maintenance operations. According to the Act on Joint Management of Rental Buildings, the tenant committees have also had the chance to make statements concerning the budget.

The Board of the Turku Student Village Foundation confirmed the budget for 2023 On 12th of October 2022, based on the revised rents and user fees. A notification about the rental revision has been sent to all tenants by email. The rental invoices with the new rent sums will be posted to the tenants in December.

Changes to parking space and storage rents, furniture fees and other user fees

Parking space and storage rents, furniture fees and other user fees will be increased starting from 1st of January 2023.

The rent for parking spaces with a heating pole is 15€ per month, and a space in Tavasti parking garage is 30€ per month.

The storage rent in the Student Village East and West is 8€ per month. A one-time fee of 15€ will be charged for storage lockers at Yo-talot in the future at the start of the rental contract.

The laundry fees are: 1 credit = 2.50€ per credit, 5 credits = 2€ per credit, and 10 credits = 1.80€ per credit.

The furniture fee will be 20€ per month starting from 1st of January 2023 in apartments in Iltakajo, Pilvilinna, and east and west Student Village. The increase in furniture fee is due to the harmonised quality level of furniture and fixtures in these locations. The furniture fee will remain the same for Ispuri (5€ per month). This increase in the furniture fee applies to new agreements starting on 1st of January 2023 and after this date.

Sauna turns will remain as a service included in the rent in 2023.

Aitiopaikka to introduce consumption-based water bills

The Foundation´s board also decided to start charging for water based on consumption in the Aitiopaikka housing location. Starting from 1st of January 2023 water is not included in the rents in Aitiopaikka apartments but will be invoiced separately according to consumption. The tenants of Aitiopaikka will be sent a separate email about transition to consumption-based water billing.


Frequently asked questions


Why is TYS increasing its rents?

The apartment rents of the Turku Student Village Foundation’s buildings will be revised in accordance with Chapter 3, Section 32 of the Act on Residential Leases due to rise in expenses, starting from 1st of January 2023. Rents were last raised in 2020.

Apartment rents have been determined in accordance with the absorption principle and the rules and regulations of the Housing Finance and Development Centre of Finland, ARA. Based on the absorption principle, the amount of apartment rent charged from the tenants cannot exceed the amount needed, in addition to other form of revenue, to fund the rental apartments and the related facilities and to cover the expenses of good facility maintenance operations.

Why will some apartments have a 1% increase in their rent while the rent will increase by 3% for others?

The rental budget of apartments is calculated based on estimated rate of non-occupancy. The estimate for the rate of occupancy in 2023 is based on the actual rate from previous years as well as the estimated changes occurring in the rate of occupancy.

For studio apartments, rents will increase by 3%, for family apartments by 2% and for shared apartments, apartments with a shared kitchen and apartments with a shared hallway by 1%. For a long while now, TYS has reviewed its rents in relation to the desirability and rate of occupancy of a certain apartment type. Rents are increased more for more popular apartment types with a good rate of occupancy than for apartments that suffer from low rate of occupancy.

Despite these rental increases, our objective is still to keep the rent level of TYS apartments 15–20% below the average rental level of the market when also including electricity, water and internet connection fees in the comparisons.

Why will TYS also charge a separate fee of 0.51€/ m²/month?

The budget for 2023 was created during a situation characterised by the increase and potential strengthening of different variables of the operating environment. These include general uncertainty factors of economy (such as increasing costs and rates, inflation, economic cycle), availability of funding and investment subsidies (ARA) both for new construction projects and renovations, changes in studying methods (remote/local studies), climate change, and the changes in the security environment in Finland and Europe. Assessing the timing and impacts of these variables makes planning and budgeting of operations more difficult. The budget for 2023 includes a computational increase of 0.51€/ m²/month due to the increased energy costs.

What is the separate increase of 0.51€/ m²/month? How has it been determined?

This is a computational estimate related to the increased cost of energy.
Due to these increased energy costs, a computational increase of 0.51€/ m²/month will be added to rents.

Has the computational increase of 0.51€/ m²/month taken into account in my rent, which is in the same rent increase notice?

Yes.

Why won’t the rents of apartments for exchange students rise as much as the rents of other apartments?

The rents for exchange students’ apartments will be increased by 0.51€/ m²/month. The rents of exchange student apartments will not otherwise be revised. The rent of these apartments will next be revised on 1st of August 2023. The rents for exchange student apartments were last revised starting from 1st of August 2022.

The current financial situation of students is difficult. Why is TYS increasing its rents right now?

The apartment rents of the Turku Student Village Foundation’s buildings will be reviewed due to rise in expenses in accordance with Chapter 3, Section 32, of the Act on Residential Leases.

Apartment rents have been determined in accordance with the absorption principle and the rules and regulations of ARA. Based on the absorption principle, the amount of apartment rent charged from the tenants cannot exceed the amount needed, in addition to other form of revenue, to fund the rental apartments and the related facilities and to cover the expenses of good facility maintenance operations.

Why will the rents of parking spaces with heating poles increase?

TYS reviews its user fees from time to time. The increasing rent of parking spaces with heating poles is also related to the rising costs of energy.

Why is the parking space rent higher in Tavasti than in other locations?

Tavasti has an indoor parking garage, due to which the parking space rents are higher.

Why will the storage locker rents increase in east and west Student Village?

TYS reviews its user fees from time to time.

Why isn’t rent charged for storage lockers of all housing locations?

In most of our locations, tenants have apartment-specific storage lockers. However, the building in Student Village and Yo-talot do not have storage lockers for all tenants, so tenants needing storage space have to rent a storage locker.

Why is a one-time fee charged for Yo-talot building’s storage lockers, but not elsewhere?

The storages available at Yo-talot are more like safe deposit boxes than actual storage lockers.

Why will the prices of laundry credits increase?

TYS reviews its user fees from time to time. The increased prices of laundry credits are also related to rising costs of energy.

Why will the furniture fees increase?

We are harmonising and improving the furnishings and amenities of apartments. However, these improvements and increases only apply to new rental agreements. The apartments with improved amenities will have, in addition to basic furniture, a mattress and a ceiling lamp.

Why isn’t the furniture fee the same for all housing locations?

The amenities of Ispuri shared apartments will not be improved.

Where can I see what my new rent will be?

You can see your new rent in your rent revision notice and in the rental invoice that will be sent to you vial email in the beginning of December.

Will the reference number of the rent invoice change?

No, it will remain the same.

I receive my rent invoice as an e-invoice. Will I have to make changes to the e-invoice?

No changes are needed.

Do I have to reapply for housing allowance?

You should notify Kela of the new rent sum. Kela can confirm the new rent from TYS.